Question 1

A balanced funnel involves:

Accepted Answer

A) aggressively eliminating non-productive leads 
B) combining technical sales with product sales 
C) entering prospects from an even balance of industries 
D) entering the "Ferris wheel" simultaneously 
E) having prospects at different stages of the sales cycle 
A) aggressively eliminating non-productive leads 
B) combining technical sales with product sales 
C) entering prospects from an even balance of industries 
D) entering the "Ferris wheel" simultaneously 
E) having prospects at different stages of the sales cycle

Question 2

Qualifying is the process of identifying prospects who should be contacted.

Accepted Answer

A) True 
 B)False

Question 3

Joe Girard's "Ferris Wheel" concept assumes which of the following?

Accepted Answer

A) The optimal ratio of customers to prospects is 66 percent. 
B) If the customers are sold the correct product and given good service,a company will not lose customers. 
C) A certain number of customers will be lost every year by most companies. 
D) Departing customers must be replaced by new customers at an equal rate. 
E) Salespeople will do better prospecting when they think of the process as a roller coaster. 
A) The optimal ratio of customers to prospects is 66 percent. 
B) If the customers are sold the correct product and given good service,a company will not lose customers. 
C) A certain number of customers will be lost every year by most companies. 
D) Departing customers must be replaced by new customers at an equal rate. 
E) Salespeople will do better prospecting when they think of the process as a roller coaster.

Question 4

Which of the following is most likely a true statement regarding prospecting?

Accepted Answer

A) Personal observation is an unlikely prospecting technique. 
B) Cold call prospecting is a systematic approach to identifying prospects. 
C) The response rate for e-mails is high,so they are a valid source of prospects. 
D) A salesperson cannot afford to spend time calling on persons who are not legitimate prospects. 
E) Networking should be avoided as a source of prospects because it is unprofessional to mix business and friendship. 
A) Personal observation is an unlikely prospecting technique. 
B) Cold call prospecting is a systematic approach to identifying prospects. 
C) The response rate for e-mails is high,so they are a valid source of prospects. 
D) A salesperson cannot afford to spend time calling on persons who are not legitimate prospects. 
E) Networking should be avoided as a source of prospects because it is unprofessional to mix business and friendship.

Question 5

Describe the major benefits of using a computerized database as a source of prospects.

Accepted Answer

1.Can match product features with the ne

Question 6

Charles Lin has just been hired by Frederick Company to replace a sales representative who is retiring after 40 years with the company.The older representative is training Charles on procedures and customers in his territory for three weeks before he retires,and Charles knows this is a huge opportunity to learn about the prospect base.When Charles asks which CRM system the company uses,the older representative says,"Everyone else here uses some computer program called Salesforce,but I won't touch it.I know my customers like the back of my hand! I never needed to write anything down."
Charles is concerned.He used Salesforce in college and knows how vital it is to have customer information,sales records,preferences,and conversations recorded.He talks to the sales manager,who tells him the representative's sales were decent,and all his invoices came in,so they left him alone and never forced him to use the CRM system.
-What will be the most likely outcome for Charles due to the retiring representative's lack of record-keeping?

Accepted Answer

A) Charles' sales will track way behind those of the retiring representative,and he will be docked pay and denied promotions. 
B) Since Charles is starting from almost scratch developing a prospect and customer base,he will lose some current customers because he does not know about them. 
C) Charles will be unlikely to develop sales presentation skills because of the time required to track referrals. 
D) Since Charles does not need any information from the retiring representative,he will conduct more cold calls and develop a larger base of qualified customers. 
E) Charles will continue maintaining the retiring representative's accounts as usual without any changes in strategy or implementation. 
A) Charles' sales will track way behind those of the retiring representative,and he will be docked pay and denied promotions. 
B) Since Charles is starting from almost scratch developing a prospect and customer base,he will lose some current customers because he does not know about them. 
C) Charles will be unlikely to develop sales presentation skills because of the time required to track referrals. 
D) Since Charles does not need any information from the retiring representative,he will conduct more cold calls and develop a larger base of qualified customers. 
E) Charles will continue maintaining the retiring representative's accounts as usual without any changes in strategy or implementation.

Question 7

CRM software is useful because customer information is most likely:

Accepted Answer

A) shared with competitors 
B) available to many people in the company 
C) stored locally on the salesperson's computer 
D) updated automatically by the CRM provider 
E) changed only with the approval of a supervisor 
A) shared with competitors 
B) available to many people in the company 
C) stored locally on the salesperson's computer 
D) updated automatically by the CRM provider 
E) changed only with the approval of a supervisor

Question 8

Which of the following questions is most relevant to qualifying a prospect?

Accepted Answer

A) How long has the prospect been interested in the product? 
B) Does the prospect know the firm's decision maker? 
C) Can the prospect make the buying decision? 
D) Can the prospect pay in cash for the purchase? 
E) Has the prospect purchased anything similar before? 
A) How long has the prospect been interested in the product? 
B) Does the prospect know the firm's decision maker? 
C) Can the prospect make the buying decision? 
D) Can the prospect pay in cash for the purchase? 
E) Has the prospect purchased anything similar before?

Question 9

Which of the following efforts is used by progressive marketers to improve the quality of the prospecting process?

Accepted Answer

A) Shorten the sales cycle by quickly determining which new prospects are qualified. 
B) Reduce the number of prospects who board the "Ferris wheel." 
C) Avoid the temptation of developing quality standards,which disrupts the prospect flow. 
D) Increase the use of telemarketing efforts to identify likely prospects. 
E) Make more cold calls to increase the volume and quality of prospects in the pipeline. 
A) Shorten the sales cycle by quickly determining which new prospects are qualified. 
B) Reduce the number of prospects who board the "Ferris wheel." 
C) Avoid the temptation of developing quality standards,which disrupts the prospect flow. 
D) Increase the use of telemarketing efforts to identify likely prospects. 
E) Make more cold calls to increase the volume and quality of prospects in the pipeline.

Question 10

It would be inappropriate to ask for the names of potential buyers immediately after closing the sale.

Accepted Answer

A) True 
 B)False

Question 11

The use of friends and acquaintances is not an acceptable way to build a prospect base.

Accepted Answer

A) True 
 B)False

Question 12

The practice of marketing goods and services through telephone contact is known as ________.

Accepted Answer

The answer of The practice of marketing goods and services...

Question 13

The goal of prospecting is to build a prospect base made up of current and potential customers.

Accepted Answer

A) True 
 B)False

Question 14

In most cases,technicians,receptionists,bank tellers,and other non-sales personnel can do little to help with prospecting.

Accepted Answer

A) True 
 B)False

Question 15

Charles Lin has just been hired by Frederick Company to replace a sales representative who is retiring after 40 years with the company.The older representative is training Charles on procedures and customers in his territory for three weeks before he retires,and Charles knows this is a huge opportunity to learn about the prospect base.When Charles asks which CRM system the company uses,the older representative says,"Everyone else here uses some computer program called Salesforce,but I won't touch it.I know my customers like the back of my hand! I never needed to write anything down."
Charles is concerned.He used Salesforce in college and knows how vital it is to have customer information,sales records,preferences,and conversations recorded.He talks to the sales manager,who tells him the representative's sales were decent,and all his invoices came in,so they left him alone and never forced him to use the CRM system.
-How does the retiring representative's decision to not use a CRM system most likely affect Frederick Company?

Accepted Answer

A) Customer knowledge is lost rather than passed on to the rest of the company. 
B) The sales representative's territory is not maximized because of poor strategy. 
C) The entire company's pipeline forecasts cannot be maintained or calculated. 
D) Organizational culture is damaged because of a lack of team spirit. 
E) Hiring practices are hindered because of poor mentoring methods. 
A) Customer knowledge is lost rather than passed on to the rest of the company. 
B) The sales representative's territory is not maximized because of poor strategy. 
C) The entire company's pipeline forecasts cannot be maintained or calculated. 
D) Organizational culture is damaged because of a lack of team spirit. 
E) Hiring practices are hindered because of poor mentoring methods.

Question 16

A typical company will lose approximately what percent of its customers every year?

Accepted Answer

A) 5 to 10 
B) 15 to 20 
C) 25 to 30 
D) 35 to 40 
E) 45 to 50 
A) 5 to 10 
B) 15 to 20 
C) 25 to 30 
D) 35 to 40 
E) 45 to 50

Question 17

Cold calling can be an effective technique for reaching:

Accepted Answer

A) decision makers 
B) senior executives 
C) potential prospects 
D) buying centers 
E) qualified leads 
A) decision makers 
B) senior executives 
C) potential prospects 
D) buying centers 
E) qualified leads

Question 18

Joe Girard's "Ferris Wheel" concept illustrates how many calls it takes to close a sale.

Accepted Answer

A) True 
 B)False

Question 19

Educational seminars are most likely a good source of prospects because:

Accepted Answer

A) people who pay for a seminar will buy product 
B) salespeople need help conducting demonstrations 
C) most seminar attendees are referrals 
D) product benefits and features can be showcased 
E) salespeople can build a close into the keynote speech 
A) people who pay for a seminar will buy product 
B) salespeople need help conducting demonstrations 
C) most seminar attendees are referrals 
D) product benefits and features can be showcased 
E) salespeople can build a close into the keynote speech

Question 20

Many banks,accounting firms,and consulting companies use seminars to generate new prospects.

Accepted Answer

A) True 
 B)False

A balanced funnel involves:

Qualifying is the process of identifying prospects who should be contacted.

Joe Girard's "Ferris Wheel" concept assumes which of the following?

Which of the following is most likely a true statement regarding prospecting?

Describe the major benefits of using a computerized database as a source of prospects.

CRM software is useful because customer information is most likely:

Which of the following questions is most relevant to qualifying a prospect?

Which of the following efforts is used by progressive marketers to improve the quality of the prospecting process?

It would be inappropriate to ask for the names of potential buyers immediately after closing the sale.

The use of friends and acquaintances is not an acceptable way to build a prospect base.

The practice of marketing goods and services through telephone contact is known as ________.

The goal of prospecting is to build a prospect base made up of current and potential customers.

In most cases,technicians,receptionists,bank tellers,and other non-sales personnel can do little to help with prospecting.

A typical company will lose approximately what percent of its customers every year?

Cold calling can be an effective technique for reaching:

Joe Girard's "Ferris Wheel" concept illustrates how many calls it takes to close a sale.

Educational seminars are most likely a good source of prospects because:

Many banks,accounting firms,and consulting companies use seminars to generate new prospects.

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Ethics: the Foundation for Partnering Relationships That Create Value

Creating Value With a Relationship Strategy

Communication Styles: A Key to Adaptive Selling Today

Creating Product Solutions

Product-Selling Strategies That Add Value

The Buying Process and Buyer Behavior

Approaching the Customer With Adaptive Selling

Determining Customer Needs With a Consultative Questioning Strategy

Creating Value With the Consultative Presentation

Negotiating Buyer Concerns

Adapting the Close and Confirming the Partnership

Servicing the Sale and Building the Partnership

Opportunity Management: The Key to Greater Sales Productivity

Management of the Sales Force

Filters

Exam 9: Developing and Qualifying Prospects and Accounts

A balanced funnel involves:

Qualifying is the process of identifying prospects who should be contacted.

Joe Girard's "Ferris Wheel" concept assumes which of the following?

Which of the following is most likely a true statement regarding prospecting?

Describe the major benefits of using a computerized database as a source of prospects.

CRM software is useful because customer information is most likely:

Which of the following questions is most relevant to qualifying a prospect?

Which of the following efforts is used by progressive marketers to improve the quality of the prospecting process?

It would be inappropriate to ask for the names of potential buyers immediately after closing the sale.

The use of friends and acquaintances is not an acceptable way to build a prospect base.

The practice of marketing goods and services through telephone contact is known as ________.

The goal of prospecting is to build a prospect base made up of current and potential customers.

In most cases,technicians,receptionists,bank tellers,and other non-sales personnel can do little to help with prospecting.

A typical company will lose approximately what percent of its customers every year?

Cold calling can be an effective technique for reaching:

Joe Girard's "Ferris Wheel" concept illustrates how many calls it takes to close a sale.

Educational seminars are most likely a good source of prospects because:

Many banks,accounting firms,and consulting companies use seminars to generate new prospects.

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Ethics: the Foundation for Partnering Relationships That Create Value

Creating Value With a Relationship Strategy

Communication Styles: A Key to Adaptive Selling Today

Creating Product Solutions

Product-Selling Strategies That Add Value

The Buying Process and Buyer Behavior

Approaching the Customer With Adaptive Selling

Determining Customer Needs With a Consultative Questioning Strategy

Creating Value With the Consultative Presentation

Negotiating Buyer Concerns

Adapting the Close and Confirming the Partnership

Servicing the Sale and Building the Partnership

Opportunity Management: The Key to Greater Sales Productivity

Management of the Sales Force

Filters